VINYAS
Vinyas Innovativ share price & financials
- Price
- ₹1,463.8
- Market cap
- ₹1.9k Cr
- Sector
- Capital Goods
- Calls analysed
- 3
Vinyas Innovativ Q4 FY26
What went well
- Strong FY26 revenue of ₹518 crores and PAT of ₹30.87 crores, reflecting healthy growth.
- EBITDA margin improved to 12.5% for FY26, with H2 showing further expansion to around 13% due to product mix and operating leverage.
- Robust order book of ₹1,309 crores as of March 31, 2026, providing 18-24 months of execution visibility.
What to watch
- Ongoing dynamic global geopolitical environment influencing supply chains and investment decisions.
- Short-term availability challenges and input raw material pricing volatility, particularly in semiconductors.
What Vinyas Innovativ does
Vinyas Innovative Technologies is an electronics manufacturing services (EMS) provider that designs, engineers and manufactures PCB assemblies, cable harnesses, electro-mechanical assemblies and integrated subsystems for mission-critical platforms. It serves as a long-standing supplier to defence PSUs and global OEMs/ODMs, delivering high-performance subsystems and PCBAs for missiles, tanks, radar and avionics platforms, and has moved up the value chain from board assembly into system integration and technology-transfer manufacturing. It also supplies regulated electronics for medical devices (ICU, diagnostic imaging, infusion, surgical automation) and industrial electronics such as energy-measurement and automation systems.
Segments
- Defence & Aerospace
- Industrial Electronics
- Medical Devices
- Transportation
- Manufacturing area
- 1,50,000 sq.ft.
- Additional Class-3 facility under expansion
- 25,000 sq.ft.
- Team size
- 500+
- Customers served
- 100+
- Years of manufacturing experience
- 25 years
- Quality/industry certifications held
- ISO 9001:2015, AS9100-D, NADCAP (Electronics/PCB Assemblies), ISO 13485:2016, IATF 16949:2016, ESD S20.20, Defence Industry License (GoI)
Guidance record · Q4 FY26
what the last two calls moved 12 tracked 1 delivered 4 missed 7 open- EBITDA Margin delivered said Q4 FY25 Promised: 9% to 11% for the next 2 to 3 years Q4 FY26: FY26 EBITDA margin came in at 12.5%, exceeding the guided band. Management has subsequently revised guidance upwards to 11-12% for FY27.
- Order Book Value missed said Q4 FY25 Promised: ₹1,500 crores to ₹1,600 crores by the end of this financial year Q4 FY26: Order book at end of FY26 was ₹1,309 crores, missing the target of ₹1,500-1,600 crores.
- Revenue Growth revised down said Q4 FY25 Promised: 25% growth this financial year Q4 FY26: FY26 revenue was ₹518 crores. While the FY25 base isn't provided, strong H1 growth of 43% suggests the original 25% target was met. However, forward guidance for FY27 was moderated to 25-30% YoY, a step down from the 30-35% guided in Q2.
All 12 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q4 FY26: revenue up 67.8%, net profit up 120.0% against the same quarter last year.
| Line item | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 114 | 121 | 137 | 180 | 150 +32% | 247 +104% | 212 +55% | 302 +68% |
| EBITDA | 10 | 11 | 14 | 19 | 17 +70% | 24 +118% | 21 +50% | 40 +111% |
| Net profit | 3 | 4 | 6 | 10 | 7 +133% | 12 +200% | 9 +50% | 22 +120% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +23.2% 1Y
1Y: ₹1,256.7 on 10 Sept 2025 → ₹1,548. High ₹1,656.6 (25 Aug 2026), low ₹813.2 (30 Mar 2026).
How the price took the results
close before → close after
- Q4 FY26
- +8.2%
- 29 May
- Q2 FY26
- +2.9%
- 10 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹4 Cr | ₹4 Cr | ₹4 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr |
| Reserves | ₹27 Cr | ₹28 Cr | ₹42 Cr | ₹116 Cr | ₹202 Cr | ₹223 Cr |
| Borrowings | ₹94 Cr | ₹96 Cr | ₹86 Cr | ₹97 Cr | ₹129 Cr | ₹130 Cr |
| Other liabilities | ₹60 Cr | ₹94 Cr | ₹84 Cr | ₹83 Cr | ₹64 Cr | ₹102 Cr |
| Total liabilities | ₹185 Cr | ₹221 Cr | ₹216 Cr | ₹308 Cr | ₹407 Cr | ₹468 Cr |
| Fixed assets | ₹17 Cr | ₹15 Cr | ₹13 Cr | ₹42 Cr | ₹45 Cr | ₹65 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹3 Cr | ₹0 Cr | ₹10 Cr | ₹4 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹168 Cr | ₹206 Cr | ₹200 Cr | ₹266 Cr | ₹352 Cr | ₹399 Cr |
| Total assets | ₹185 Cr | ₹221 Cr | ₹216 Cr | ₹308 Cr | ₹407 Cr | ₹468 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Mar 2026
Since Mar 2025, the public trimmed −3.03 pp while DIIs added +3.02 pp. The shareholder count grew 26% to 1,673.
- Promoters
- 29.4%
- FIIs
- 0.5%
- DIIs
- 6.5%
- Public
- 63.6%
Since Mar 2025
- Public −3.03 pp
- DIIs +3.02 pp
- Promoters +0.01 pp
How it drifted, 6 quarters
Over this window the public fell from 67.3% to 63.6% — −3.8 pp.
Ownership split by quarter, oldest first. Mar '24: Promoters 29.4%, FIIs 0.0%, DIIs 3.2%, Public 67.3%.Jun '24: Promoters 29.4%, FIIs 0.0%, DIIs 2.8%, Public 67.8%.Sep '24: Promoters 29.4%, FIIs 0.0%, DIIs 2.8%, Public 67.8%.Mar '25: Promoters 29.4%, FIIs 0.5%, DIIs 3.5%, Public 66.6%.Sep '25: Promoters 29.4%, FIIs 0.5%, DIIs 4.5%, Public 65.6%.Mar '26: Promoters 29.4%, FIIs 0.5%, DIIs 6.5%, Public 63.6%.
Who bought this quarter
since Sep 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Ajay Kumar Aggarwal - 2 +0.20 pp 1.23% held
- Prabha Mohta +0.05 pp 3.89% held
The same filing shows 1 holder trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Vinyas Innovativ above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Narendra Narayanan | 18.51% | unchanged |
| Meera Narendra | 10.87% | unchanged |
| S. Prakash | 9.50% | unchanged |
| Kishan Gopal Mohta | 5.00% | unchanged |
| Anirudh Mohta | 4.35% | unchanged |
| Prabha Mohta | 3.89% | +0.05 pp |
| K R Usha | 2.86% | unchanged |
| Isha Mohta | 1.30% | unchanged |
| Ajay Kumar Aggarwal - 2 | 1.23% | +0.20 pp |
| Himanshi Kela | 1.19% | −0.40 pp |
| Ranvir Ranjit Shah | 1.09% | unchanged |
| Sharath Srinivas Deshpande | 0.01% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
- Growth the price implies
- 27.0% a year
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
All earnings calls (3)
Read the Q4 FY26 call →Learn to analyse Vinyas Innovativ
Guides on how to read this kind of business and the numbers that matter.